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India’s state-run oil refiners raised gasoline and diesel prices for the first time in four years to limit their growing losses and tame domestic demand, as global crude prices remain high due to the Middle East conflict.

Mortgage rates in the US were little changed even as the escalating energy crisis drives inflation higher.

US retail sales advanced for a third month in April, pointing to some signs of consumer resilience despite sharply higher gasoline prices.

US gasoline inventories are on pace to drop to historical seasonal lows by late summer, further straining a tight fuel market upended by the war in Iran.

Zimbabwe began trials of blending ethanol and diesel to offset rising costs caused by conflict in the Middle East, the nation’s energy minister said.

Brazil is taking action to increase the use of ethanol in gasoline in an effort to tame the impacts of rising fuel costs as the war in the Middle East drags on.